CMH Achieves Level 4 B-BBEE Status
First Car Rental Achieves Level 2
June 2019 - Combined Motor Holdings Limited (CMH), the JSE-listed car dealership giant and First Car Rental's holding company, has achieved Level 4 B-BBEE Status, in accordance with the Codes of Good Practice - Gazetted 11 October 2013.
In order to achieve the Level 4 Status, a company must earn 65 to 74.99 scorecard points and 100% procurement recognition.
Level 4 Status indicates that the CMH Group is fully B-BBEE compliant.
The CMH Group supports the development of Black-owned enterprises, and as a result, achieved full points in the Supplier Development and Enterprise Development Elements on both its scorecards. There is also a significant focus on procuring its controllable spend from Black-owned businesses, and in particular, exempt micro enterprises.
The CMH Group is well known throughout the industry for its focus on employee training, not as a 'tick box' exercise, but as a method of creating competency and career paths for its employees. This focus allows the Group to score well in the skills development element of the scorecard, but more importantly, it provides employees with confidence and creates opportunities for those employees with potential to further themselves within the Group
The Group also invests in short and long-term learnerships in various divisions and has a track record of retaining approximately 50% of learners enrolled. Management believes that these initiatives in training and skills development will generate long-term benefits for the CMH Group and the country.
To view the CMH Group's B-BBEE certificate click here.
The CMH Group's primary empowerment partner is Thebe Investment Corporation ("Thebe"). Thebe was founded in 1992 and is one of South Africa's leading black-owned investment companies, managing assets of over R6 billion.
Thebe is a unique entrepreneurial company driven by a commitment to serve the broader interests of communities at large. Thebe's investment portfolio spans tourism, mining resources, infrastructure, renewable energy, petrochemicals, telecommunications, financial services, and healthcare.
The CMH Group remains committed to transformation, maintaining its B-BBEE levels and achieving employment equity. Transformation is a journey, and when that journey is embraced, it is bound to yield positive results.
First Car Rental Achieves Level 2 B-BBEE Status
First Car Rental, a proudly South African company and a wholly-owned subsidiary of the CMH Group, has achieved level 2 B-BBEE status with 125% procurement recognition.
The prestigious Level 2 B-BBEE certification is an indicator of First Car Rental's commitment to the advancement of black economic empowerment in South Africa and ensuring the upliftment of our nation's people.
To view the First Car Rental B-BBEE certificate, click here.
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